Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals

10 Best Practices for Optimizing the Lifetime Value of your ERP Investment

• Understand how to avoid inherent barriers to ERP implementation success

• Discover actionable advice for the proper alignment of people and processes in executing an ERP implementation plan

• Understand how to build a partnership with your ERP vendor and consultants to maximize the lifetime value of an ERP investment

• Discover current and emerging trends in ERP solutions

Learning Objectives

After attending this event you will be able to:

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Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals

10 Best Practices for Optimizing the Lifetime Value of your ERP InvestmentMatt Kenney, Principal of the Technology Consulting Practice, McGladrey

Agenda for today

• Why managing ERP matters to your organization and your career

• Best Practices across ERP lifecycle– Choosing the right system– Implementing Successfully– Optimizing and Enhancing

Why managing ERP matters

Source: 2014 McGladrey Monitor Report

Why managing ERP matters

• ERP is increasingly the domain of finance rather than IT

• ERP is a key tool for improving performance– Must measure in order to manage– The right task at the right time by the right person– Automation drives efficiency and accuracy

• ERP presents inherent risks that must be managed– Obsolescence – Data Security– System Failure

• Managing ERP is integral to improving performance and minimizing risk for your organization

Choosing the right system

Best Practice #1 – Start with strategy• What is your business objective?

• What obstacles must be overcome?

• How can business applications help?

Choosing the right system

Best Practice #2 – Define scope

Choosing the right system

Best Practice #3 – Determine where you’re special – and where you’re not.• Which current business processes are

standard and which are unique to your organization?

• Why are processes not standardized? Competitive advantage or bad habit?

• Do you need an industry-specific solution?

Choosing the right systemP

RO

SC

ON

S

Vertical Solutions Horizontal Solutions

Functionality developed to meet your niche

Industry Expertise Implementers understand your

companies unique needs

Large install base Better Financial core More add-on vendors Usually more current technology Usually more consultants

available

Technology may be dated Smaller customer base to use to

make investments – Less R&D Less flexible solutions if your

company changes Typically have weaker financial

packages

Might not meet needs of your specific industry – need to rely on add-on solutions

Implementers may not be familiar with your industry

10 Best Practices for Optimizing the Lifetime Value of Your ERP Investment

Thank you for your interest in this presentation.

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